This article is by Mark S. Becker, Partner, CFO Edge, LLC.
Transitioning accounting duties comes into play in scenarios like an acquisition, a merger or outsourcing accounting to a third-party services provider.
Challenges in transitioning accounting duties occur if procedures and policies are not up to date or if both entities do not use the same general ledger system.
Discussed in the full PDF…
…are transitioning downsides that can include delayed timing of a transaction’s close or reduced faith in financial data.
Greater Los Angeles executives who are looking at transitioning accounting duties can benefit from talking with a provider of CFO services who can assist in reaching four desired goals.
Leveraging expertise earned as a former enterprise chief financial officer, a CFO services partner sees transitioning holistically and develops a transition plan that delivers prioritized and properly sequenced transfer tasks that are assigned to the right resources.